By Craig Witz, VP, Branch Sales
Our semiannual loyalty survey was administered April 4-24. Invitations to provide feedback were sent to about half of our customers.
The survey was redesigned entirely from previous surveys. The emailed invitation included the first question of the survey, “How easy is it to do business with us?” The customer could choose from 1 to 5 stars, and once they made a selection, they were taken to a landing page with the rest of the questions.
In addition to their likelihood to recommend us, we asked each customer to choose the three most important factors in their banking relationship (out of a menu of nine choices). Then we asked them to rate us on those factors and offered the opportunity to provide comments.
Overall, customers rated us 4.42 on a scale of 5 in ease of doing business.
Banking Factors – Importance
We asked customers to choose up to three from a list of factors that are most important to them in their banking relationship. Friendly people, convenient branches and ATMs, and knowledgeable team members were cited as key factors by our customers.
The importance of our culture of high-touch service is reinforced by these results. Customers value access to friendly people who know them by name and offer advice.
Online and mobile access, and fast and accurate service were the most important factors for customers under the age of 40, indicating the need to quickly serve the needs of busy customers.
“Good value” had the lowest number of responses, indicating that service, relationship, and problem solving are more important in choosing a financial institution than rates or fees.
Banking Factors – Rating
In addition to asking customers which factors were most important to them, we asked them to rate their most important factors on a scale of 1 to 7. Friendly people, knowledgeable staff, and trustworthiness were the highest-rated factors.
Nearly all respondents scored us a 6 or 7 on the friendliness of our staff on the seven-point scale. Knowledgeable staff was the next-highest factor.
Respondents under age 40 rated “fast and accurate service” as their next-highest category, while those over 40 rated trustworthiness the next-highest.
Qualitative Information
For each factor the customer chose as one of their most important, we offered the opportunity to provide comments.
Many commenters told us about the friendliness of our staff. Welcoming customers to the branch, being patient with their needs, and using their names were frequently cited as how we demonstrate friendliness. Our commitment to community involvement also generated positive reaction from customers.
Convenient access to branches and ATMs is also important to customers, based on their comments. Coin counting continues to garner appreciation, as do the extended hours available through video teller service. Customers expect and appreciate access to free ATMs, and we continue to communicate the 33,000 free ATMs available to our customers.
The video teller experience generated some customer responses. Extended-hour access is important to customers, and many appreciate the ease and convenience of use.
The highest percentage of people choosing to comment on a factor belonged to mobile and online access. Many praised the ease and convenience of mobile banking and mobile deposit.
Other comments mentioned positively how we proactively help them find answers to their questions, or recommended products or services that would benefit them.
Final Note
Our customer feedback boils down to a couple of key points. Mobile access and other electronic services are really important to customers. We can help them get started and answer their questions. Customers also really appreciate each and every one of us for our friendly conversations and knowing them as individuals. They like when we proactively tell them about ways we can help with their finances. They value when we make it easy to do business with us. In other words, they like the way we SOAR at North Shore Bank.